The Trump administration will exempt U.S. automakers from new tariffs on Canadian and Mexican imports for one month, the White House said Wednesday—as the 25% levies imposed Tuesday could potentially lead to price hikes on a range of imported goods, from food and alcohol to lumber.

President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers.

WASHINGTON—Automakers will get a one-month reprieve from tariffs on Mexico and Canada for cars that comply with a free-trade agreement between those two nations and the U.S., the White House said Wednesday.